Lloyds Banking Group (NYSE:LYG) Releases Earnings Results, Misses Expectations By $0.03 EPS

Lloyds Banking Group (NYSE:LYG) posted its quarterly earnings results on Thursday. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03), Zacks reports. The company had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $4.76 billion. Lloyds Banking Group had a net margin of 10.89% and a return on equity of 9.81%.

Lloyds Banking Group Stock Performance

Shares of LYG stock traded up $0.07 during trading hours on Friday, reaching $3.40. The company had a trading volume of 5,818,630 shares, compared to its average volume of 14,939,723. The stock’s fifty day simple moving average is $2.90 and its 200 day simple moving average is $2.93. The company has a market capitalization of $51.56 billion, a P/E ratio of 8.68 and a beta of 1.31. Lloyds Banking Group has a twelve month low of $2.25 and a twelve month high of $3.40.

Analyst Ratings Changes

Separately, Morgan Stanley downgraded Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $2.75.

About Lloyds Banking Group

Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services in the United Kingdom and internationally. It operates in three segments: Retail; Commercial Banking; and Insurance, Pensions and Investments. The Retail segment offers a range of financial service products, including current accounts, savings, mortgages, motor finance, unsecured loans, leasing solutions, and credit cards to personal customers.